WaPo: \”The Trump administration, facing rising tensions with Iran, plans to reinforce its military presence in the Middle East by sending another few thousand forces to the region to step up missile defense and surveillance, according to U.S. officials.\”

April Durable Goods Orders Fell 2.1%; Est. Down 2%
Durable goods new orders revised down to 1.7% for March from 2.8%, the Census Bureau said
New orders ex-trans. unchanged in April after 0.5% fall
New orders ex-defense fell 2.5% in April after 0.1% rise, largest decline since Jan. 2018
Non-defense capital goods orders ex-aircraft fell 0.9% in…[Read more]

Bill Evans with the three rate cut call for the RBA: “Our central forecast for the terminal cash rate in this cycle is 0.75% with risks to the downside, although we would certainly see 0.5% as the floor for the cash rate, with QE a more effective policy tool thereafter,”

More from Pelosi: Impeachment is a \”very divisive place to go for the American people\” but the House will follow the facts, get the information to the American people. Yes, these could be impeachable offenses.\”

Axios: “Reality check: It’s not like the Trump administration would suddenly drop its fight against Congress and dump a bunch of documents in Pelosi’s arms. The big difference between an impeachment inquiry and a regular investigation, legal experts say, is that Congress might have a stronger hand in the courts to get some of the information it…[Read more]